Consider the following time series data. Choose the correct time series plot. (i) (ii) (iii) (iv) What type of pattern exists in the data? Develop a three-week moving average for this time series. Compute MSE and a forecast for week 7. If required, round your answers to two decimal places. Week Time Series Value Forecast 1 18 2 13 3 16 4 11 fill in the blank 3 5 17 fill in the blank 4 6 14 fill in the blank 5 MSE: fill in the blank 6 The forecast for week 7: fill in the blank 7 Use α = 0.2 to compute the exponential smoothing values for the time series. Compute MSE and a forecast for week 7. If required, round your answers to two decimal places. Week Time Series Value Forecast 1 18 2 13 fill in the blank 8 3 16 fill in the blank 9 4 11 fill in the blank 10 5 17 fill in the blank 11 6 14 fill in the blank 12 MSE: fill in the blank 13 The forecast for week 7: fill in the blank 14 Compare the three-week moving average forecast with the exponential smoothing forecast using α = 0.2. Which appears to provide the better forecast based on MSE? Explain. The input in the box below will not be graded, but may be reviewed and considered by your instructor. Use trial and error to find a value of the exponential smoothing coefficient α that results in a smaller MSE than what you calculated for α = 0.2.
Consider the following time series data. Choose the correct time series plot. (i) (ii) (iii) (iv) What type of pattern exists in the data? Develop a three-week moving average for this time series. Compute MSE and a forecast for week 7. If required, round your answers to two decimal places. Week Time Series Value Forecast 1 18 2 13 3 16 4 11 fill in the blank 3 5 17 fill in the blank 4 6 14 fill in the blank 5 MSE: fill in the blank 6 The forecast for week 7: fill in the blank 7 Use α = 0.2 to compute the exponential smoothing values for the time series. Compute MSE and a forecast for week 7. If required, round your answers to two decimal places. Week Time Series Value Forecast 1 18 2 13 fill in the blank 8 3 16 fill in the blank 9 4 11 fill in the blank 10 5 17 fill in the blank 11 6 14 fill in the blank 12 MSE: fill in the blank 13 The forecast for week 7: fill in the blank 14 Compare the three-week moving average forecast with the exponential smoothing forecast using α = 0.2. Which appears to provide the better forecast based on MSE? Explain. The input in the box below will not be graded, but may be reviewed and considered by your instructor. Use trial and error to find a value of the exponential smoothing coefficient α that results in a smaller MSE than what you calculated for α = 0.2.
Chapter4: Linear Functions
Section4.3: Fitting Linear Models To Data
Problem 24SE: Table 6 shows the year and the number ofpeople unemployed in a particular city for several years....
Related questions
Question
-
Consider the following time series data.
- Choose the correct time series plot.
(i) (ii) (iii) (iv)
What type of pattern exists in the data?
- Develop a three-week moving average for this time series. Compute MSE and a forecast for week 7. If required, round your answers to two decimal places.
WeekTime Series
Value
Forecast1 18 2 13 3 16 4 11 fill in the blank 3 5 17 fill in the blank 4 6 14 fill in the blank 5
MSE: fill in the blank 6
The forecast for week 7: fill in the blank 7 - Use α = 0.2 to compute the exponential smoothing values for the time series. Compute MSE and a forecast for week 7. If required, round your answers to two decimal places.
WeekTime Series
Value
Forecast1 18 2 13 fill in the blank 8 3 16 fill in the blank 9 4 11 fill in the blank 10 5 17 fill in the blank 11 6 14 fill in the blank 12
MSE: fill in the blank 13
The forecast for week 7: fill in the blank 14 - Compare the three-week moving average forecast with the exponential smoothing forecast using α = 0.2. Which appears to provide the better forecast based on MSE?
Explain.
The input in the box below will not be graded, but may be reviewed and considered by your instructor. - Use trial and error to find a value of the exponential smoothing coefficient α that results in a smaller MSE than what you calculated for α = 0.2.
- Choose the correct time series plot.
solve all the whole question including sub parts
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Recommended textbooks for you
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Algebra
ISBN:
9781680331141
Author:
HOUGHTON MIFFLIN HARCOURT
Publisher:
Houghton Mifflin Harcourt
Trigonometry (MindTap Course List)
Trigonometry
ISBN:
9781305652224
Author:
Charles P. McKeague, Mark D. Turner
Publisher:
Cengage Learning
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Algebra
ISBN:
9781680331141
Author:
HOUGHTON MIFFLIN HARCOURT
Publisher:
Houghton Mifflin Harcourt
Trigonometry (MindTap Course List)
Trigonometry
ISBN:
9781305652224
Author:
Charles P. McKeague, Mark D. Turner
Publisher:
Cengage Learning
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL